When the diversified Sydney property developer announced its first over-55s land lease community in Western Australia on 17 April, Stockland Executive General Manager Col Dutton said it was the first of Stockland’s five or six planned within its master planned communities.
The Weekly SOURCE can reveal the next will be an over-60s land lease community in Stockland Forest Reach, which will be built in Huntley, 18km south-west of Wollongong CBD.
“There are plans underway in the Forest Reach community for a proposed 25,000sqm park which will include a junior-sized football field and full-sized basketball court. There will also be a playground with outdoor fitness equipment, shaded seating, open lawns, and walking paths," Stockland said in a media statement.
“Upon completion, Forest Reach will also include townhomes as well as a Stockland Halcyon land lease community designed for over 60s looking to enjoy an active lifestyle within a connected community.”
In its 3Q24 update to the ASX, Stockland said it will have up to 12 new communities expected to launch during FY24 and it was maintaining the company’s FY24 target settlements of 400-450 homes, with development operating profit margin slightly below the long-term target range of 22-27%.
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